Dangote looking to Invest $15 Billion In Africa By 2018

Aliko Dangote

Aliko Dangote is on track to spend up to $15 billion pursuing investment opportunities on the African continent in the next 4-5 years.

Dangote made the pledge while speaking at the sidelines of the town hall meeting hosted by US President, Barack Obama at the University of Johannesburg, on June 30. According to Dangote, there is no better time to invest in Africa than now. It should be noted that Dangote, recently spoke to a group of entrepreneurs on the advantages of investing on the continent, and reaffirmed that “the return on investment in Africa is always very high.”

The billionaire entrepreneur, revealed that his Dangote Group has already invested approximately US $8 billion in the oil and gas business and another US$2 billion in the development and expansion of the fertilizer business. The new investments will help spur growth and will create jobs in the regions that they are situated. According to him, all these are “just to try and drag people who really don’t understand Africa,” and “show them that doing business in Africa is not as bad as what people portray it to be.”

Mr. Dangote also pointed out that immense opportunities abound in Africa’s agricultural sector.. “…in the next couple of years, when the world population will cross over 8 billion, a lot of countries will need arable land and that land is only available in Africa. So there will be a lot happening here,” he explained.

Source: Ventures Africa